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Spectrum cancels offshore acquisition contract


Published Jan 16, 2009
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Spectrum ASA

Spectrum ASA has received notice of the exercising of the cancellation option in their contract with GX Technology (GXT) under the terms of the contract signed in July 2008.

The contract for the acquisition of 2D seismic data within GXT's BasinSPAN program was originally expected to end in June 2009, although there was an option for a 12 month extension.

Spectrum will now seek new opportunities within the Asia Pacific region for its vessel, GGS Atlantic,

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